What will my wife get after I'm gone? UK work pension.

[IvorBiggun2]

Some years ago I asked my pension provider how much monthly my wife will get once I die. If I recall right they said 45% of what I was getting before I died. To spoil it all I was told today that it has since changed and they will only pay her proportionately due the 25 year age difference. I hope I've explained that correctly? Is it true?

[lungbing]

There should be a handbook of rules for the pension und.  Ask them  for a copy and check.  But I have heard of this before.

[BritManToo]

2 hours ago, IvorBiggun2 said:

To spoil it all I was told today that it has since changed and they will only pay her proportionately due the 25 year age difference. I hope I've explained that correctly? Is it true?

It would depend on your pension scheme rules.

My company will pay my misses 65% of my pension.

Same age difference.

[keithkarmann]

My pension provider (name withheld) told me they are not allowed to be ageist so my wife would be getting 50% of what I get, despite the 36 year age gap. But I know some companies do deduct a percentage after a 10 year allowance for age differenxe, of so much for each year difference. You have to check with your provider.

[Farang99]

12 hours ago, BritManToo said:

It would depend on your pension scheme rules.

My company will pay my misses 65% of my pension.

Same age difference.

My pension provider says they will pay 50%. Age difference 30 years

[sirineou]

12 hours ago, BritManToo said:

It would depend on your pension scheme rules.

My company will pay my misses 65% of my pension.

Same age difference.

Same here

We opted for a small deduction from my monthly work pension and the wife gets 3/ of it after I die, 

See if they have different options. 

PS: we are US based. 

[skorts]

I worked in the pensions industry in the U.K. for over 30 years. Historically, a lot of the occupational defined benefit schemes (company schemes where the pension is based on salary and length of membership) reduced the spouse’s pension if the spouse was more than 20 years younger.
The reduction in spouse’s pension being directly related to the actual age difference of the spouse as this impacts on how long the spouse’s pension will potentially be paid for. 
As suggested, ask your pension provider for clarification and ask to see a copy of the Scheme booklet as it should be clearly stated what level of spouse’s pension is payable and what % reduction is applied for every year the spouse is more than 20 years younger than the member. 

[Tropposurfer]

1 hour ago, keithkarmann said:

My pension provider (name withheld) told me they are not allowed to be ageist so my wife would be getting 50% of what I get, despite the 36 year age gap. But I know some companies do deduct a percentage after a 10 year allowance for age differenxe, of so much for each year difference. You have to check with your provider.

36 years! You must be really hansum man haha????????????????

[Tropposurfer]

After she cunningly poisons me, ever so slowly mine'll get the lot lol ????????????

[brewsterbudgen]

Yes, my Final Salary pension will only pay my wife 50% of what she's entitled to as she's 30 years younger than me.

[StevieAus]

As a matter of interest, if you are receiving a UK State Pension into which presumably you contributed, does your wife continue to receive any of that after you die,

Or are they just as hardline as the Australian

Government, if such a thing is possible.

[brewsterbudgen]

4 minutes ago, StevieAus said:

As a matter of interest, if you are receiving a UK State Pension into which presumably you contributed, does your wife continue to receive any of that after you die,

Or are they just as hardline as the Australian

Government, if such a thing is possible.

I don't think so. Women have to make contributions to their own State pension. Women in the UK have equality ????

[DaLa]

I have 4 'private' schemes and they all treat the situation differently and in accordance with the scheme rules. One interesting scheme I  have is with the UK teachers pension. I was never a teacher and the last time I entered a school was when I was 15.  However when I got divorced , my school teacher wife had a very strange understanding of 50/50 and wanted to retain all her pension. We went to an independent assessor who awarded me 22.5%. 

 

Unfortunately for some crazy reason in the Teachers pension scheme her portion ( 77.5%) would provide a 50% benefit to a surviving spouse ( her new husband ) whereas my slice 'dies' with me.

 

So check the rules, let them know that your new partner is financially dependant on you and have her nominated with the scheme administrators.

[DPKANKAN]

That is correct. They will reassess the annuity based on her age against the fund value at the time, in order to make it last. 

I have my fund confirmed to my missus when I pop my clogs. I am a trustee of our Company fund which is privately controlled so have a bit of involvement.????????????????

[StevieAus]

29 minutes ago, brewsterbudgen said:

I don't think so. Women have to make contributions to their own State pension. Women in the UK have equality ????

Thanks, women in Australia have their own pensions too also it seems more rights than men.

 My question arose out ofUK men receiving a State Pension married to a Thai who obviously could never have paid into the system

My Thai wife is lucky she gets 100% of mine if I die but it’s time limited.

Wonder sometimes if I should eat the food she cooks great as it is !!!!

[LongTimeLurker]

1 hour ago, StevieAus said:

As a matter of interest, if you are receiving a UK State Pension into which presumably you contributed, does your wife continue to receive any of that after you die,

Or are they just as hardline as the Australian

Government, if such a thing is possible.

Your wife will receive nothing in the way of UK State Pension benefits.

 

And I believe they have also stopped the lump sum Bereavement Benefit.

[Chongalulu]

2 hours ago, brewsterbudgen said:

Yes, my Final Salary pension will only pay my wife 50% of what she's entitled to as she's 30 years younger than me.

50% is often the standard amount for any surviving spouse ,but I suggest you check the small print - both my occupational schemes have a provision that greater than a 10 year age difference has x% deduction for every year over this . This is commonplace and highlighted in an article in the Times money section a week ago. 

[crazykopite]

Suggest you write to them and get it straight from the horses mouth every pension scheme is different so I doubt you will get the answer on this forum

[DefaultName]

Mine will get nothing as I wasn't married when I retired and didn't take the lower "in case you get married" pension.

[Andycoops]

4 hours ago, StevieAus said:

As a matter of interest, if you are receiving a UK State Pension into which presumably you contributed, does your wife continue to receive any of that after you die,

Or are they just as hardline as the Australian

Government, if such a thing is possible.

No.

[brewsterbudgen]

1 hour ago, nchuckle said:

50% is often the standard amount for any surviving spouse ,but I suggest you check the small print - both my occupational schemes have a provision that greater than a 10 year age difference has x% deduction for every year over this . This is commonplace and highlighted in an article in the Times money section a week ago. 

That's what I meant; I checked with my pension advisor.  My wife is entitled to 50% of my pension after I'm gone, but that sum is then reduced by 50% again due her being 30 years younger than me.

[Chongalulu]

25 minutes ago, brewsterbudgen said:

That's what I meant; I checked with my pension advisor.  My wife is entitled to 50% of my pension after I'm gone, but that sum is then reduced by 50% again due her being 30 years younger than me.

Ah,I see. My biggest pension asset by far is my SIPP (personal pension) which remains invested (and increasing) which she can inherit. The main advantage with the age difference (mine is 21 years) is that as transfers/inheritance between spouses is tax free it’s gonna be a very long time before HMRC can get any inheritance tax and potentially with her being a Thai not domiciled in UK (though having uk citizenship) she may be able to escape even that when going to our only daughter. ???? , 

[Harveyboy]

4 hours ago, brewsterbudgen said:

I don't think so. Women have to make contributions to their own State pension. Women in the UK have equality ????

i think that's the case wife gets nothing from government pension which i always seen as wrong ..they work us till we drop  Squeeze the last drop from us knowing most will never recoup anything near what we have paid ..not stupid eh ...our families should get some of the benefits after we die..

[Geir Rasch]

If the age gap is big, there is a possibility that the wife would be remarried. What does the pension rules say about that?

I know that regard to public pension i Norway, the widow get nothing if she remarries.

They also reduce her pension if she is below 55 years of age.

[hotandsticky]

8 hours ago, Farang99 said:

My pension provider says they will pay 50%. Age difference 30 years

Mine is 50% less 10% (ie to 45%) for a 19 year age difference.

[IvorBiggun2]

Thanks to all. I will get back to yous when I get a report back from my insurer

[IvorBiggun2]

On 10/2/2021 at 4:49 PM, IvorBiggun2 said:

Thanks to all. I will get back to yous when I get a report back from my insurer

Well I got a report back.

Quote

 

The West Midlands Pension Fund is undertaking its annual overseas pensioner verification checks of all its scheme members who live overseas as a means of fraud prevention.

The Fund continues to work with Target Professional Services to trace and verify scheme members on our behalf.

 

What a load of tosh. 

Quote

Please look out for an email or letter from Target within the next month,

 

[hotchilli]

On 9/30/2021 at 5:51 PM, IvorBiggun2 said:

Some years ago I asked my pension provider how much monthly my wife will get once I die. If I recall right they said 45% of what I was getting before I died. To spoil it all I was told today that it has since changed and they will only pay her proportionately due the 25 year age difference. I hope I've explained that correctly? Is it true?

Private company pension providers each will have their own rules on paying pensions to spouses.

You'll have to check the small print.

I believe the government/state pension now pays nothing to expat spouses..

[Surasak]

On 10/1/2021 at 9:42 AM, StevieAus said:

As a matter of interest, if you are receiving a UK State Pension into which presumably you contributed, does your wife continue to receive any of that after you die,

Or are they just as hardline as the Australian

Government, if such a thing is possible.

Sorry to say, but yes the UK gov are just as hard line.

[Tuvoc]

On 9/30/2021 at 11:51 AM, IvorBiggun2 said:

Some years ago I asked my pension provider how much monthly my wife will get once I die. If I recall right they said 45% of what I was getting before I died. To spoil it all I was told today that it has since changed and they will only pay her proportionately due the 25 year age difference. I hope I've explained that correctly? Is it true?

Yes, I had a defined benefit scheme and they would only have paid something like 33% due to the age difference of 19 years. (Edit: actually it was less than that maybe only 25%, but I don't recall the exact amount) I was both shocked and mortified, so I transferred out of it and the fairly large lump sum went into a managed SIPP where she gets whatever is left when I die.